I’ve met with a number of very impressive entrepreneurs—some I’d even call visionaries—who have launched or are about to launch serious and legitimate wealth management firms. Sure, with the industry climate as it is, this may not be such a surprise. But the real story here is that these firms are part of a whole different breed—a new-fangled, modern twist on registered investment advisory firms—emblematic of how the industry landscape has expanded to address the changing needs of the advisor population at large. The model I’m referring to is “quasi-independence.”
You’ve likely heard the name before; HighTower led the way with the model back in 2008. Yet today’s industry climate has been perfect for quasi-independence to come into its own, paving the way for what some might call “quasi-independence 2.0.”
